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Press Releases

AUCTION ACTIVITY REMAINS STABLE IN DECEMBER

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for December 2017.

The report shows that overall in December:

First time conversion rates decreased slightly by -1.9% to 77.7% from November

Average selling value increased 2.4% from £5,558 to £5,693 from the previous month, and was up 3.9% from last Decembers figure of £5,477

Average mileage went down by -0.8% to 63,800 from November but remained static on the same period last year

The first time premium was -£156 – a -7.6% decline on last month’s figure of -£145

Louise Wallis, Head of NAMA commented, “Auction activity declined overall in December which is normal for the time of year. Lower demand for cars affected conversion rates and hammer prices.

“The New Year has started to see better results, and there is a good supply of vehicles giving buyers a wide choice. Demand has been picking up since the first week of the month, which should help values and conversion rates”.

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION ACTIVITY STRENGTHENS IN JANUARY

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for January 2018.

The report shows that overall in January:

First time conversion rates increased by 3.9% to 81.6% from December

Average selling value decreased -2.7% from £5,693 to £5,542 from the previous month, however, was up 4.6% from last January’s figure of £5,296

Average mileage went up by 3.0% to 65,726 from December, and was up just slightly by 0.6% on the same period last year

The first time premium was -£231 – a significant -48.1% decline on last month’s figure of -£156

Louise Wallis, Head of NAMA commented, “Auction activity strengthened in January as dealers bought stock to fulfil increased demand from consumers, who are opting in favour of used cars instead of new.

“Whilst diesel cars are holding their own in general, the premium sector - particularly large premium German brands, have struggled to achieve prices that are in line with vendors expectations.

“This, coupled with the large volume of cars that were offered throughout the month, led to overall hammer prices being more subdued than would normally be expected in January. However, as the month progressed, prices began to strengthen.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION ACTIVITY REMAINS STABLE IN FEBRUARY

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for February 2018.

The report shows that overall in February:

First time conversion rates increased by 3.7% to 85.3% from January

Average selling value increased 6.2% from £5,542 to £5,884 from the previous month, and was up a massive 16.7% from last February’s figure of £5,041

Average mileage was down by -1.7% to 64,611 from January, and was down by -3.3% on the same period last year

The first time premium was -£43 – a significant -81.4% decline on last month’s figure of -£231

Louise Wallis, Head of NAMA commented, “Auction activity remained buoyant in in February, indicating that retail activity is still strong.

“In general, feedback received within the market revealed some frustration among buyers as stock levels made it more difficult to buy the desired level of stock.

“However, it will come as welcome news that more stock is expected to hit the wholesale channels as a result of the March plate-change, but buyers should be aware that as seen in previous years, it can take until the third week of the month before this stock hits significant volumes.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA AGM RAISES £14,150 FOR BEN

The National Association of Motor Auctions (NAMA) held its annual AGM on the 28 April in Lisbon, Portugal.

A charity auction in aid of BEN – the automotive industry charity, took place following the AGM - raising a phenomenal £14,150.

During the AGM it was also announced that James Tomlinson from Motor Auction Group (MAG) would carry on as NAMA chairman for a further year, and Stuart Pearson of British Car Auctions (BCA) was officially appointed as Vice Chairman.

Louise Wallis, Head of NAMA commented, “This year’s AGM was well attended by members and was overall a positive and informative meeting with constructive discussions regarding the UK auction industry.

“We are extremely pleased with the amount raised for BEN and would like to thank everyone for their generous donations.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

MP VISITS NAMA AUCTION MEMBER SITE

Sir Oliver Heald, who is Member of Parliament for North East Hertfordshire, was on a site visit to gain a better understanding of how motor auctions are operated and see the employment and business opportunities available in the sector. It was also an opportunity for him to see the significance of the site to the local economy.

In addition, Louise Wallis, Head of NAMA, highlighted to Sir Oliver Heald a number of industry issues, including Brexit, diesel, mileage fraud and debit card charges which are costing the industry almost £1.8 million a year.

Louise Wallis commented, “The visit provided an opportunity for Sir Oliver Heald to find out more about the Letchworth Motor Auctions, and the importance of motor actions to the UK economy.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

APRIL MARKS STRONG MONTH FOR AUCTION ACTIVITY

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for April 2018.

The report shows that overall in April:

First time conversion rates decreased by -3.3% to 80.5% from March

Average selling value was up 3.0% from £5,512 to £5,677 from the previous month, and was up a positive 12.9% from last April’s figure of £5,027

Average mileage was down by -1.5% to 65,379 from March, however was up by 1.4% on the same period last year

The first time premium was £33, down -25% on last month’s figure of -£44

Louise Wallis, Head of NAMA commented, “Whilst auction activity was buoyant in April, demand began to weaken as the month progressed, which was in line with expectations for this time of year.

“Good wholesale prices led to well stocked forecourts, and having held up well so far this year, auction hammer prices began to soften with evidence that vendors who chose to hold out for the strongest prices, experienced a drop in conversion rates.

“However, rates were stronger than last year where we saw an unusual amount of cars hit auction channels as a result of changes to new car VED rates.

“With the outlook for auction activity looking positive over the coming months, it will be interesting to see if the market holds up with our expectations.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

MP VISITS NAMA AUCTION MEMBER SITE

Tim Loughton, who is Member of Parliament for East Worthing and Shoreham, was on a site visit to gain a better understanding of how motor auctions are operated and see the employment and business opportunities available in the sector. It was also an opportunity for him to see the significance of the site to the local economy.

Louise Wallis, Head of NAMA, highlighted to Tim Loughton a number of industry issues, including Brexit, diesel, mileage fraud and debit card charges which are costing the industry almost £1.8 million a year.

In addition, discussions were also held around the Governments Road to Zero Strategy which was published earlier this week by the Department for Transport (DfT). The report highlights the Governments support for the Energy Saving Trust to deliver dealer training, something which Shoreham Vehicle Auctions has been involved in for some time now, and plans to work with NAMA to publish electric vehicle guidance for sellers, dealers and auction houses.

Louise Wallis commented, “The visit provided an opportunity for Tim Loughton to find out more about Shoreham Vehicle Auctions, and the importance of motor actions to the UK economy.”

ENDS

NOTES TO EDITORS: Please contact the RMI Press Office for photos of the MP visit.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

MP VISITS NAMA AUCTION MEMBER SITE

Owen Paterson, who is Member of Parliament for North Shropshire, was on a site visit to gain a better understanding of how motor auctions are operated and see the employment and business opportunities available in the sector. It was also an opportunity for him to see the significance of the site to the local economy.

Louise Wallis, Head of NAMA, highlighted to Owen Paterson a number of industry issues, including Brexit, diesel, mileage fraud and debit card charges which are costing the industry almost £1.8 million a year.

In addition, discussions were also held around the Governments Road to Zero Strategy which was published earlier this month by the Department for Transport (DfT). The report highlights the Governments support for the Energy Saving Trust to deliver dealer training, and plans to work with NAMA to publish electric vehicle guidance for sellers, dealers and auction houses.

Louise Wallis commented, “The visit provided an opportunity for Owen Paterson to find out more about Aston Barclay, and the importance of motor actions to the UK economy.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION MARKET REMAINS BUOYANT IN JUNE SAYS NAMA

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for June 2018.

The report shows that overall in June:

First time conversion rates increased by 2.5% to 77.5% from May to June, and increased 2.1% on June 2017.

Conversion rates have been higher than the previous year for the last 6 consecutive months.

Petrol first time conversion was up 2.6% from May to June 2018.

Diesel converted at 77.3%, up significantly by 4.8% on last year.

Average mileage was up to 65,842 from May to June 2018.

The first time premium was £98, up on last month’s figure of £76. Premiums for first time sales for both petrol and diesel cars were also up by £103 and £55 respectively.

Overall average selling value was down -£292 to £5,365 from the previous month, but still broadly in line with the 2017 largely due to changes in the model and segment mix.

Louise Wallis, Head of NAMA commented, “Auction activity has been buoyant in 2018 so far. The average first time conversion rate was 2.5% higher than the previous month and 2.1% higher than June 2017. Petrol cars converted at a slightly better rate than the average at 77.9%

“The outlook continues to look positive for the coming months, and it will be interesting to see if the diesel market can continue this performance on the back of the Government’s Road to Zero strategy”

James Tomlinson Chair of NAMA adds, “Conversion rates have been extremely strong this year and month on month 2018 has consistently outperformed the last 2 years in this key selling metric.

“This cements the strength of the UK auction market, despite the challenges that could have been posed by recent sporting events and the hot summer.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

MP VISITS NAMA AUCTION MEMBER SITE

Kemi Badenoch, who is Member of Parliament for Saffron Walden, was on a site visit to gain a better understanding of how motor auctions are operated and see the employment and business opportunities available in the sector. It was also an opportunity for her to see the significance of the site to the local economy.

Louise Wallis, Head of NAMA, highlighted to Kemi Badenoch a number of industry issues, including Brexit, diesel, mileage fraud and debit card charges which are costing the industry almost £1.8 million a year.

In addition, discussions were also held around the Governments Road to Zero Strategy which was published earlier this month by the Department for Transport (DfT). The report highlights the Governments support for the Energy Saving Trust to deliver dealer training, and plans to work with NAMA to publish electric vehicle guidance for sellers, dealers and auction houses.

Louise Wallis commented, “The visit provided an opportunity for Kemi Badenoch to find out more about Aston Barclay, and the importance of motor actions to the UK economy.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

POLITICAL EDITOR ROBERT PESTON ANNOUNCED AS GUEST SPEAKER AT RMI ANNUAL DINNER

Published 02/08/2018

Political Editor Robert Peston will be the guest speaker at this year’s Retail Motor Industry Federation (RMI) Annual Dinner, on Thursday 11 October at the InterContinental Park Lane, London.

Robert Peston currently hosts the politics and current affairs show ‘Peston on Sunday’, and previously worked for the Sunday Telegraph, Financial Times and formerly was the BBC’s Economics Editor.

Commenting on the upcoming dinner, RMI Director Sue Robinson said, “Guests can look forward to an evening of fine dining and stimulating discussions, and the opportunity to network with follow colleagues. We look forward to seeing you all there.”

For more information or to make a booking, please contact Sarah O’Connell on 0207 307 3580 or email sarah.oconnell@rmif.co.uk.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

RMI WARNS AGAINST UNNECESSARY MOT EXTENSION

Published 23/01/2017

The Department for Transport (DfT) has released a consultation seeking views on whether the age a vehicle gets its first MOT should be increased from 3 to 4 years, and the Retail Motor Industry Federation (RMI) is warning motorists that the proposed changes will be more detrimental to consumers overall.

The DfT are proposing three options:

Option 1: No change, maintain the current period for vehicles requiring a first MOT at three years

Option 2: Extend the first MOT for all vehicles currently requiring an MOT at three years, to four years

Option 3: As Option 2, excluding vans in classes 4 and 7, where we will maintain the current MOT three year first test timing

The Government preference is for either option 2 or 3, however the RMI is strongly in favour of option 1.

Stuart James, RMI Director comments, “This is an unnecessary consultation and there are a number of reasons why the benefits promoted by government are seriously outweighed by the pitfalls. At the three year period alone this change will see 400,000 unroadworthy cars on the road for another 12 months and no official mileage recorded until year 4.

“Although modern cars are better built than ever before, factors such as the condition of Britain’s roads combined with high mileages mean that modern cars should be checked more often but in many cases go for many months or even years without being seen by an industry professional.

“This proposal would, without doubt, cost consumers more in repair costs, incentivise “clockers” and be detrimental to the UK’s excellent road safety record for no particular gain.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION MARKET ENDS ON HIGH FOR 2016

Published 31/01/2017

“Following what could be described as an uncertain political and economic climate, 2016 marked a strong performance from the UK motor auction sector”, commented Louise Wallis, Head of The National Association of Motor Auctions (NAMA).

2016 saw record used car sales of 7.7 million and this translated into a very busy year for auctions, as dealers bought cars to fill forecourts to meet consumer demands.

NAMA saw an increase in auction sale values of 3.6% over the year, with the late and low sector performing particularly well with a 4.2% increase to £13, 049.

Wallis continued, “Although the average sales value in December was up by 2% from November to £5.477 in 2016, there is still speculation that activity in 2017 will become more challenging.

“Currently the economy continues to do well with record low unemployment, and strong GDP growth, although inflation is beginning to rise. This has encouraged both consumers and businesses to spend - however, any changes to this over the coming months could have an impact on the used car market.

“We will continue to urge the Government to ensure that the economy remains buoyant in the wake of political uncertainty from the Brexit it vote.

“We look forward to seeing how 2017 develops, and hope it will be another strong and positive year for auctions.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA WELCOMES CHANGES TO LOGBOOK LOAN REFORMS

“We are pleased to see that the government is to reform the legislation that governs logbook loans”, commented Louise Wallis, Head of The National Association of Motor Auctions (NAMA).

Logbook loans are where a consumer takes out finance on their car securing the loan on its V5 or logbook. These are not traditional consumer credit arrangements, but fall under the Bill of Sale legislation. The Bill of Sale is an archaic piece of legislation that dates back to the 19th century and is no longer appropriate for modern use.

Wallis continued, “Logbook loans have been problematic for the auctions and dealers, as well as consumers. Unlike consumer credit, the loans do not have to be settled when the car is sold, and means the new owner of the vehicle can be made to pay any outstanding debt - even if they have not taken out the loan.

“Unlike vehicle finance, these loans do not have to be registered with the credit reference agencies, and so will not show up when a vehicle date check is carried out. This has meant that sellers are unwittingly selling vehicles with un-cleared finance to consumers.

“NAMA has campaigned for many years for a change in this law, and the government is now acting to introduce a new type of loan called a ‘vehicle mortgage’. These will have to be registered with credit agencies, giving sellers better protection. Furthermore, a consumer who unfortunately buys a vehicle with one of these loans will not be liable to the debt from a previous owner.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA CAR AUCTION REPORT FEBRUARY 2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for February 2017.

The report shows that overall in February:

First time conversation rates increased by 2.6% to 83.4% - the rate was down by -0.5 on the same period last year

Average selling value decreased -4.8% from £5,296 to £5,041

Average mileage went up by 2.3% to 66,811

The first time premium was £74

Louise Wallis, Head of NAMA commented, “Wholesale activity in February was buoyant. It was clear that the excess volumes experienced in January had largely washed through auction centres.

“Whilst there was no shortage of stock, demand led to an increase in conversion rates.

“The following weeks will see large numbers of part exchange vehicles entering the market following the plate change in March. The current demand for cars should allow these vehicles to be absorbed by the market as they are bought to supply dealer forecourts to fulfil consumer demand.

“We now look forward to seeing what the first quarter of 2017 brings.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA CAR AUCTION REPORT MARCH 2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for March 2017.

The report shows that overall in March:

First time conversation rates decreased by -0.1% to 83.3% from the previous month and down by -0.3% on the same period last year

Average sales value increased by 0.1% compared to last March from £4,959 to £4,965

Average mileage went down by -4.1% to 66,469

The first time premium was £83

Louise Wallis, Head of NAMA, commented, “The Wholesale market started the month buoyantly with high conversion rates and strong sales values. During the month, more stock arrived at auction which was generated from strong new car sales and the March plate change. This resulted in slightly weaker conversion rates and prices than at the start of the month.

Overall conversion rates for the month were only marginally lower than February and sales values were marginally better than last March. This suggests the market is still performing well and coping with the recent increase in cars coming through the auction halls.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

RMI OFFERS FREE MOT TRAINING FOR MEMBERS

Published 01/06/2017

To celebrate the opening of a new Academy of Automotive Skills in Runcorn, the Retail Motor Industry Federation (RMI) is offering free MOT Tester training to its members.

To support MOT businesses in the North of England, the RMI is opening its second Academy in July so MOT stations can have access to an all-encompassing cost effective MOT training solution from the UK’s largest automotive trade association.

The offer is available throughout July to RMI members who have been in membership for over two years and are eligible to take the course immediately.

Stuart James, RMI Director commented, “We believe this is what trade associations should be doing for their members. As the largest representative voice of MOT businesses and a ‘not for profit’ organisation, we are delighted to be giving something back to loyal members. Mirroring our existing Academy in Southam, this Academy will be providing high quality training courses that are already exceptional value for money, and this offer for our longstanding members is unbeatable.”

The new Academy will deliver MOT Tester training for all classes, MOT Manager training and a Level Three accreditation in Light Vehicle Inspection for experienced technicians who do not have formal qualifications.

The Academy will also cater for MOT Tester Annual Training, offering classroom sessions for the DVSA 2017/18 syllabus with the annual assessment.

Booking for all training course is now open and can be made via the RMI Member Helpline on 0845 305 4230.

ENDS

NOTES TO EDITORS: The RMI Academy of Automotive Skills was set up by RMI in 2015 to act as a leading resource for automotive training in the UK, and deliver high quality, cost effective training as a trade body with no commercial interests.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

CURRENT RULES ON LOGBOOK LOANS TO BE REPLACED

Published 21/06/2017

“It is extremely positive to see that following persistent lobbying efforts, current legislation on logbook loans will be replaced with a new act which will ensure more protection for both consumers and businesses”, said Sue Robinson, director of NFDA and NAMA, commenting on the Goods Mortgages Bill included in today’s Queen’s Speech.

The National Franchised Dealers Association (NFDA) and the National Association of Motor Auctions (NAMA) have been campaigning jointly to change current legislation on logbook loans for many years.

Today’s Queen Speech confirmed that the current Bills of Sale Acts will be replaced with a new Goods Mortgage Act which will enable individuals to use their existing goods as security of a loan, while retaining possession of the goods.

As outlined in the Queen’s Speech, the main elements of the Bill are:

Repealing the Victorian-era Bills of Sale Acts and replacing them with a Goods Mortgage Act which enables individuals to use their existing goods (such as a vehicle) as security for a loan, while retaining possession of the goods.

Increasing protection for borrowers who get into financial difficulty.

Helping borrowers in financial difficulty by giving them the right to voluntary termination by handing over their vehicle or other goods to the lender.

Providing protection for innocent third parties who buy a vehicle subject to a logbook loan that may be at risk of repossession.

Robinson continued, “Logbook loans represent an issue for our industry as they do not have to be recorded on the vehicle data registers, meaning that vehicles can be easily sold without the clear title.

“The new act will bring more protection for consumers and businesses, as vehicles will be properly registered on the credit agencies databases.

“We are pleased to see that the Government confirmed that it will consider further recommendations on the issue from the Law Commission, which NFDA and NAMA fully endorse.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

BBC’S ANDREW NEIL ANNOUNCED AS GUEST SPEAKER AT RMI ANNUAL DINNER

Published 06/09/2017

BBC Presenter Andrew Neil will be the guest speaker at this year’s Retail Motor Industry Federation (RMI) Annual Dinner, on Thursday 19 October at the Landmark Hotel, London.

Scottish journalist and broadcaster Andrew Neil currently presents the BBC’s live political programmes, Daily Politics and This Week, and was a former editor for The Sunday Times for 11 years. Neil has recently stepped down as the presenter of the Sunday Politics programme after 5 years in the post.

Commenting on the upcoming dinner, RMI Director Sue Robinson said, “Guests can look forward to an evening of fine dining and stimulating discussions, and the opportunity to network with follow colleagues. We look forward to seeing you all there.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA CAR AUCTION REPORT AUGUST 2017

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for August 2017.

The report shows that overall in August:

First time conversion rates increased by 3.1% to 82.3% from July, the rate was also 4.6% higher than in August 2016.

Average selling value were 7.5% higher than August 2016, rising from £4,824 to £5,188

Average mileage went up by 1.1% to 65,654

The first time premium was £109 – up by £43 (+65.2%) on last month

Louise Wallis, Head of NAMA commented, “It is positive to see that the auction market strengthened again in August.

“First time conversion rates at 82.3% were higher than the same period last year, however, sold volume was fairly similar, meaning that there was less stock available in the month this year.

“Hammer prices remained high in August due to demand exceeding supply. As we enter the plate change month, supply shortages are likely to ease, although demand is expected to remain high, particularly, for clean low mileage petrol vehicles.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION ACTIVITY STRENGTHENS FURTHER IN SEPTEMBER

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for September 2017.

The report shows that overall in September:

First time conversion rates increased by 3.1% to 85.4% from August - the rate was also up 3.1% on September 2016

Average selling value increased 13.6% from £5,188 to £5,893 from the previous month

Average mileage went down by -3.6% to 63,289 – falling by over 4,500 miles compared to the same period last year

The first time premium was £189 – up by £80 (73.4%) on last month, but still in line with 12 months ago when it was £180

Louise Wallis, Head of NAMA commented, “It is positive to see that auction activity strengthened further in September.

“First time conversion rates remained strong, and the volume of cars only increased slightly during this month. Anticipated increase in stock from the plate change did not materialise or arrived late in the month which kept conversion rates and prices high.

“We expect auction activity to remain stable going into the final quarter.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

RMI CALLS ON GOVERNMENT TO ENGAGE WITH THE INDUSTRY

Published 19/10/2017

“It is vital that the government encourages both economic and consumer confidence and enables investment, in order for the retail motor industry to progress and thrive in a stable environment”, said RMI Chairman Peter Johnson, speaking at this year’s Retail Motor Industry Federation annual dinner in London tonight (19 October 2017).

He added, “The UK’s automotive sector is a global leader and the future state and success of the industry could be jeopardised if a trade deal is not secured to allow tariff free access to the European single market - following our vote to leave the EU.

“It is now essential that the government makes a commitment to outline a clear negotiating position in order to ensure our industry has what it needs to secure its future success.”

Political journalist Andrew Neil was the guest speaker at this year’s dinner.

ENDS

NOTES TO EDITORS: A copy of Peter Johnson’s speech is available from the press office.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland

AUCTION ACTIVITY SLOWS IN OCTOBER

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for October 2017.

The report shows that overall in October:

First time conversion rates decreased by -2.2% to 83.2% from September- however the rate was up 3.1% on the same period last year

Average selling value decreased -2.3% from £5,893 to £5,759 from the previous month, however positively was up 7.7% from last Octobers figure of £5,347

Average mileage went up by 1.2% to 64,054 – falling by 1,793 miles compared to the same period last year

The first time premium was -£70 – a -137% decline on last month

Louise Wallis, Head of NAMA commented, “Auction activity declined in October which is fairly normal this time of year, however the month did start off on a high note following the strong market in September.

“Demand from buyers eased through the month and as a consequence hammer prices fell.

“We anticipate that auction activity will remain stable going into the final quarter.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

AUCTION ACTIVITY SLOWS IN NOVEMBER

The National Association of Motor Auctions (NAMA) has published its monthly car auction data report today for November 2017.

The report shows that overall in November:

First time conversion rates decreased by -3.6% to 79.6% from September- however the rate was up slightly by 0.4% on the same period last year

Average selling value decreased -3.5% from £5,759 to £5,558 from the previous month, however positively was up 3.5% from last Novembers figure of £5,370

Average mileage went up by 0.4% to 64,339 – falling by 399 miles compared to the same period last year

The first time premium was -£145 – a -107.1% decline on last month’s figure of -£70

Louise Wallis, Head of NAMA commented, “Auction activity declined in November which is fairly normal this time of year.

“The number of vehicles being offered for sale remained relatively high, but with some vendors appearing reluctant to reduce their reserves to reflect the more challenging market. This resulted in volumes and conversion rates declining during the month.

“We anticipate the market to pick up in January as dealers look to restock forecourts for the New Year.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2015

Published 14/01/2016

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that the average value of used LCV’s at auction across the board decreased -2.4% from £4,921 to £4,803 in December. Volumes in December reduced by -33.5% from November to 6167 units and although it was the lowest month in volume terms for the year it was 35% higher than December 2014. The average mileage of LCV’s was up 3.3% to 83,288.

The average hammer price fell by -2.4% to £4,803 bringing to an end 7 months of consecutive increases. It is also down on the average selling price from December 2014 by -5.7%

As is expected in December, sales volumes reduced across all age ranges as a result of reduced auction sale schedules, a reduction in fresh entries and normal seasonal changes in buyer demand, with only the best units on offer, being sought after. Whilst sales volumes were down by -33.5% compared to November, they increased by 35% over December 2014.

Alex Wright, NAMA LCV Chairman comments, “Whilst sales results in December were traditionally low due to a combination of factors including a drop in fresh entries and a reduced number of scheduled auction sales, the end of 2015 proved to be an outstanding year with a 35% increase over December 2014.

“An increase in average age to only drop 5% in values is also a strong indication into the strength of the economy and the market.

“Generally we tend to see vendors hold back volume in the December market as they have fear of buyer demand dropping. However, in2015 there was little doubt the strong buyer base was standing in the hall and clicking on line eager to stock up.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT DECEMBER 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for December 2015.

The report shows that the average sales price in December decreased by -1.8% from £5,637 in November 2015 to £5,534. Compared to December 2014 there was also a fall of 2.4% from £5,670.

Sales volumes for December fell by 30.9% in comparison to November 2015. Year-on-year vehicle auction sales have risen by 26.0%, from 55,625 in December 2014 to 70,063 in December 2015.

The percentage of vehicles sold first time in December remained static in comparison to November at 77%. In comparison to December 2014 however, the first-time conversion rate increased by 4% points from 73%.

The price premium for vehicles sold first time increased from £200 to £225, and the average days on site increased to 8.8 from 8.4 days.

Sale Price by Age Profile in December 2015 compared to December 2014

2014

2015

Diff %

Late & Low

£15,825

£13,700

-13.4%

Fleet

£8,375

£8,650

+3.3%

PX (Young)

£5,825

£5,775

-0.9%

PX (Old)

£2,825

£2,850

+0.9%

Budget

£900

£900

0.0%

Two out of five market sectors saw a marginal sales price growth on the equivalent month in 2014 with the budget sector remaining static. Late and Low fell by 13.3% continuing the downward trend. The number of budget vehicles sold in auction shows no sign of reducing and represented 32.7% of all cars sold in December compared to 29.8% in December 2014.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first-time conversion in December 2015 rose again in four of the five market sectors compared to November 2015 despite a 26% growth in sold units compared to December 2014.

“The only sector registering a fall in first-time conversion was Late and Low, dropping by 0.8% from 72.7% to 71.9%. As with other months an increasing new car market has brought with it a significant uplift in the number of used vehicles returning to the wholesale market, many of which were sold in December to eager buyers. As forecast in previous reports, fleet vendors have seen their numbers returning increase, with sales volumes up 33.4% in December 2015. Notwithstanding the holiday period, it has been a very successful month for the auction houses.

“Despite a large amount of volume being sold in December, January has seen significant numbers of vehicles available from the first sale on 4 January. Fleet returns continue to arrive on sites in good numbers, combined with part exchange and overage stock which will ensure healthy choice for buyers at a point in the year where demand is likely to be very strong.

“Values for January 2016 are not forecast to be higher than January 2015 and are more likely to fall slightly compared to the equivalent period last year. Unseasonal weather and the feel good factor have kept the footfall high for most marques in the showrooms in December. Higher stock levels at auction combined with manufacturer ‘fast start’ campaigns in the retail sector may impact prices throughout the month and through the first quarter of 2016.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2016

Published 12/02/2016

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that the average value of used LCV’s at auction across the board increased 3.1% from £4,803 to £4,950 in January. As expected sale volumes increased 58% in January compared to the low point of December – however was only up 0.1% over January last year. The average mileage of LCV’s by almost 4,000 miles to 79,428.

The average hammer price at auction in January was £4950 - an increase over December of 3.1%. The average value of units less than 2 years of age increased by 7.3%, and whilst there was a small retraction for units between 2 - 4 years of age, twice as much volume was sold.

Sales volume increased by 58% in January when compared to December, which is perhaps an unfair comparison taking account of December being a short month for auction sales. Interestingly when comparing against January last year, volumes are only up by 0.1% which is the first time in recent years that volume has not substantially increased.

Alex Wright, NAMA LCV Chairman comments, “Demand in January was reasonably strong due in part to shortened auction programs in December.

“Values held up well for vehicles presented in reasonable order, complete with a full service history and anything with carlike specification or a higher horsepower performed strongly.

“Despite there being significant volumes of vans in a less than desirable condition, average conversion rate sat at a very healthy 78.3% which is 2.7 percentage points higher than in 2015.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT JANUARY 2016

Published 12/02/2016

The National Association of Motor Auctions (NAMA) published its monthly market report today for January 2016.

The report shows that the average sales price in January increased by 1.7% from December 2015 to £5,689 from ££5,534. Compared to January 2015 there was also a 1.7% rise in the average sale price from £5,592.

In line with market seasonality sales volumes for January 2016 increased by 57.5% to 110,322 from 70,063 in December 2015. Year on year vehicle auction sales fell by -0.5% to 110,322 compared to this period last year.

The percentage of vehicles sold first time in January increased in comparison to December by 2% from 82% to 84%. In comparison to January 2015 the first time conversion rate also increased 2% from 82%.

The price premium for vehicles sold first time increased from £225 to £300, and the average days on site increased to 12 from 8.8 days.

Sale Price by Age Profile in January 2016 compared to January 2015

2015

2016

Diff %

Late & Low

£14,700

£14,025

-4.6%

Fleet

£8,650

£8,775

+1.4%

PX (Young)

£5,700

£5,775

+1.3%

PX (Old)

£2,800

£2,900

+3.5%

Budget

£900

£925

+2.7%

Four out of the five market sectors saw a marginal sales price growth on the equivalent month in 2015 with the budget sector increasing again. The late and low sector fell by -4.6% continuing its downward trend since October last year. This fall however can be attributed to the model mix available at auction in this sector with an increase in the smaller, lower value vehicles.

Paul Hill, NAMA Chairman comments, “At a wholesale level first time conversion rose for all five market sectors in line with the January seasonal start to the New Year. Fleet vendors had a notable start to 2016 with large available stock levels at wholesale, combined with dealer part exchange and overage inventory.

“February volumes are expected to fall, with less volume available for sale from the fleet vendors ahead of the 16-plate change in March.

“Average values in January rose and are forecast to continue to do so through February in line with reduced stock numbers during the month. The plate change will bring with it increased volumes of wholesale stock and combined with an early Easter values are forecast to fall.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA RECEIVES OUTSTANDING CONTRIBUTION TO THE MOTOR INDUSTRY AWARD

The National Association of Motor Actions (NAMA) received the award for ‘Outstanding Contribution to the Motor Industry’ at last night’s Institute of the Motor Industry (IMI) Annual Dinner.

NAMA has been recognised for its vehicle grading scheme which was developed to enhance transparency and make it easier for auction buyers to select the vehicles they want to buy, and in particular the NAMA Vehicle Appraiser Training Course. The course is accredited by the IMI and is designed to train members to standardise vehicle appraisals throughout the UK Motor Industry. NAMA has trained over 500 appraisers so far.

Louise Wallis, Head of NAMA commented, “On behalf of NAMA we are honoured to have received this prestigious award.

“The Automotive Retail Industry is one of the fastest moving in the UK and we have developed these schemes in order for industry professionals to increase their productivity and take pride in their career and industry.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA AGM RAISES £11,200 FOR BEN

Published 16/05/2016

“This year’s NAMA AGM was a highly informative and well received meeting,” said Louise Wallis, head of the National Association of Motor Auctions (NAMA), commenting on the event which was held in Marbella, Spain.

The meeting, which took place on 14 May, discussed a number of key industry issues, such as grading and current market conditions and saw the participation of several members and experts from the industry; including representatives from the American NAAA - National Auto Auction Association. A charity auction in aid of BEN - the automotive industry charity also took place following the AGM, raising a phenomenal £11,200.

Wallis continued, “We were pleased to welcome our American counterparts from the NAAA, who gave us an interesting insight into US auctions and their health and safety issues.

“We are extremely pleased with the amount raised for BEN and would like to thank everyone for their generous donations.

“Finally, during the event James Tomlinson, Managing Director of the Motor Auction Group was confirmed as the new NAMA chairman and Simon Henstock, UK Operations Director of BCA, was nominated vice chairman after Paul Hill stepped down. We wish them both the best of luck in their new roles.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMENT - RESPONSE TO THE EU REFERENDUM RESULT

The National Association of Motor Auctions, which represents UK vehicle auctions, notes the conclusion of the EU Referendum and the decision, by the British public, to vote leave.

Sue Robinson, NAMA director said:

“Following the result of the vote NAMA will work with our members to help determine the correct next steps.

“We urge the UK government to swiftly negotiate a trade deal across Europe and the rest of the world and to secure currency stability, such that there is a level playing field for our members to operate in. Clearly it is as important to European importers as it is to the UK market that a deal is put in place very quickly.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

GOVERNMENT RESPONDS TO MILEAGE FRAUD LETTER

Published 16/08/2016

“It is positive to see that the government has now acknowledged the serious issue of odometer fraud”, said Sue Robinson, Director of the National Association of Motor Auctions (NAMA), the UK’s leading representative body for vehicle auctions, commenting on the response received from Department for Transport.

NAMA has outlined the problems that auctioneers face if they unintentionally sell a used car that has had its mileage adjusted, despite taking all reasonable precautions to ensure the vehicle had not been adjusted.

Mileage adjustment is the practice of altering a vehicle’s odometer to show a lower mileage than that actually travelled, thereby increasing the re-sale value of the vehicle.

Responding to a letter that NAMA has sent to the newly appointed Secretary of State for Transport Rt Hon Chris Grayling MP, the government has confirmed that they will be consulting on the need for action to address the issue of odometer fraud.

Robinson continued, “We have been lobbying government since September 2015 to tackle the issue of odometer fraud, with the launch of a campaign to raise awareness and encourage the outlawing of mileage adjustment companies in the UK.

“We are pleased to see that the government has positively responded to our letter, we believe further action is essential as odometer fraud has been causing problems not only to auctions, but also to the whole industry.

“We will be monitoring the situation and continue to lobby the government to ensure every effort will be made in order to tackle the issue.”

ENDS

NOTES TO EDITORS: A copy of the letter is available from the press office.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NFDA AND NAMA CALL FOR DEBIT CARD CHARGES INDUSTRY EXEMPTION

Published 13/10/2016

“The National Franchised Dealers Association (NFDA) and National Association of Motor Auctions (NAMA) have written to the Payments Systems Regulator, calling for a dispensation for the automotive industry for debit card charges”, said Sue Robinson, Director of NFDA and NAMA, commenting on the new cap on card fees introduced in September.

A cap on credit and debit card fees was introduced on 1 September 2016. This was intended to be fairer to consumers by lowering fees on smaller debit card transactions, but has led to unintended consequences for car retailers and auctions. The credit card cap has not offset the increase in debit card charges that the new fees bring, meaning businesses are paying considerably more to process card payments.

Sue Robinson continued, “Fees have increased from between 40 to 60 pence per transaction, to 2% of the whole transaction, which can equate to a £300 fee on a £15,000 transaction. This is a common problem for businesses that trade in high value goods such as cars. It is uneconomical for the sector to absorb these extra costs and it is likely that the additional charges will be passed on to the customer in higher prices or card handling fees.

“Many dealers and auctioneers have moved to taking debit card payments from cash in order to comply with anti-money laundering regulations and they are now being penalised with higher fees.

“Following Brexit, we need to support investment, as well as business and consumer spending. We have to ensure that households have a disposable income, and dealers and auctioneers should not be forced to pass the new charges on to consumers.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA LAUNCHES NEW CAR AUCTION DATA REPORT

The National Association of Motor Actions (NAMA) has launched its new car auction data report today. The new style report will be published on a monthly basis and is compiled by Glass’s Guide.

The report shows that in September:

First time conversation rates increased by 4.6% to 82.3% - however were still down -0.2% on the same period last year

Average selling value increased 0.1% to £4,829

Average mileage went down to 67,799 - which is broadly in line for the same period last year

The first time premium was £192 – down by £42 in August, however was up £22 on the same period last year

Louise Wallis, Head of NAMA commented, “Auction activity throughout September remained strong from the surge which began in August following our vote to leave the EU – showing the economy remains strong and business is still as usual.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA CAR AUCTION REPORT OCTOBER 2016

The National Association of Motor Auctions (NAMA) published its monthly car auction data report today for October 2016.

The report shows that overall in October:

First time conversation rates decreased by -2.2% to 80.1% - however were still up 1.1% on the same period last year

Average selling value increased an impressive 10.7% from £4,829 to £5,347

Average mileage went down by -2.9 to 65,847

The first time premium was £186 – down by -£6 on September, and down -£107 on the same period last year

Louise Wallis, Head of NAMA commented, “Auction activity has cooled slightly from its peak in September, however, conversion rates remain strong for the time of year and ahead of 2015.

“Whilst auction volumes sit outside the scope of this report, it is believed that the strong overall conversation rate in October was not due to a shortage of supply – thus indicating that retail demand remains buoyant.

“We look forward to seeing what the auction market has in store as we approach the Christmas season.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA CAR AUCTION REPORT NOVEMBER 2016

The National Association of Motor Auctions (NAMA) published its monthly car auction data report today for November 2016.

The report shows that overall in November:

First time conversation rates decreased by -0.9% to 79.2% - however were still up 2.9% on the same period last year

Average selling value increased 0.4% from £5,347 to £5,370

Average mileage went down by -1.7% to 64,738

The first time premium was £80 – down by a massive £106 (-57%) on last month, and down £14 (-14.7%) on the same period last year

Louise Wallis, Head of NAMA commented, “Wholesale used car activity throughout November only cooled slightly compared with October which underlines how strong auction activity has been during the final quarter of the 2016.

“We look forward to seeing what the auction market has in store following the Christmas and New Year break.”

ENDS

Notes for editors:The full NAMA Car Auction report is available from the RMI press office on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2014

Published 22/01/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that during December the average values of used LCV’s at auction across the board increased 2.9% from £4,948 to £5,091 between November and December. Volumes saw a -36.4% decrease, and the average age of LCV’s sold at auction fell to 65.9 months.

The average number of days that LCVs remained on site fell to 12.8 days, and the average mileage increased from 82,772 to 82,831 miles.

The average price paid for LCVs in December increased by £143 (+2.9%) which equates to an impressive uplift of £334 (+7%) over the same month in 2013.

At 4,562, the total number of LCVs sold at auction in December fell sharply across all age bands.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “with the LCV market up to a record breaking £5,091 - boosted by the reduction of over 6 year old vans, this trend in 2014 gives us a clear indication that sales of older vans from the rescission have finally washed through.

“The month of December is typically a quiet one due to seasonal trend, and so it is encouraging to see that sales volumes were up 17% compared to December 2013.

“Here at NAMA we are confident that 2015 will be a highly successful year for the commercial vehicle market.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT DECEMBER 2014

Published 22/01/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for December.

The report shows that during December the average month-on-month value of used cars sold at auction across the board decreased 1.2% from £5,736 to £5,670. However, this figure is 2% higher than December 2013.

Sales volumes for December 2014 are down by 37% in comparison to the November 2014 figures. However this reduction is a more sensible 6% against December 2013. The drop in volume suggests that December 2014 has been a slower sales period than the same time last year.

The volume of vehicles sold first time during December 2014, dropped from 76% in November to 73%. On the face of it this may not seem to be a surprise bearing in mind the time of year. However, this is 6% lower than December 2013 and this suggests that there may have been a greater level of stock in the market to choose from.

The price premium for vehicles sold first time round in December 2014 reversed the recent trend of decline by moving up £25 to £200, and the average days on site increased to 9.7 days.

Average sales prices show a significant increase in all except 2 sectors. This suggests that values have not increased for the Late and low and Fleet sectors due to an increase in volumes.

Paul Hill, NAMA Chairman Comments, “With the new car market finishing 2014 up 8.7% on 2013 at 2.476 million units and higher than any year since 2004, it is fair to say that franchised dealers have had little to complain about. The new car success story is set to continue through 2015, and January will prove to be the first and one of the most profitable new car months of the year. From a used car perspective 2014 can also be hailed as a great success.

“The early part of December saw a continuation of November’s buyer driven period, during which dealers were presented with opportunities to do business by retail buyers rather than necessarily being given the chance to sell to the customer. This balance shifted as the month progressed and retail buyers returned to the market in numbers as the days passed, and by Christmas things were getting back to normal. January has seen a very encouraging start with plenty of retail footfall and good demand for cars across all ages and price ranges and this will continue through until the end of the month.

“From a trade perspective December saw the usual drop in defleet volumes and the natural tail off in trade demand as cheque books were put away for the month. However, there were still some vendors looking to sell cars right up to the Christmas break which gave trade buyers the chance to stock at a higher level than in previous years. The impact of this activity is evident in the fact that the early January market did not bounce back in quite the way that many had hoped for and stock volume has remained fairly high in the trade as a whole, however activity from the second week has been very strong. With greater volume coming to the market every month this year it will be interesting to see how the market develops, although it is fair to say values are likely to remain firm for the remainder of January.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2015

Published 16/02/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that during January the average values of used LCV’s at auction across the board decreased -3.6% from £5,091 to £4,907 between December and January. Volumes saw an 85% increase, and the average age of LCV’s sold at auction rose to 67.5 months.

The average number of days that LCVs remained on site went up to 17.6 days, and the average mileage increased from 82,831 to 83,349 miles.

At £4,907, despite the average price paid for LCVs in January falling by £184 (-3.6%) this still represented an uplift of £100 (+2%) over the comparable figure recorded in 2014.

At 8,427, the total number of LCVs sold at auction in January grew sharply from the low point reached in December. Despite increases being posted across all age bands, the total volume was more than 8% below that recorded in January 2014.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The year on year figure for LCV’s was not as predicted. In fact, the opposite of what everyone expected has happened. Volume was down and prices were up again on a very strong January 2014.

“The age of stock over 6 years the highest sector with a mileage increase and it seems there is still a significant amount of other 6 year stock to wash through the pipeline yet. In January, the number of days LCV’s remained on site went up by 5 days. This was as expected as some Vendors held out stock over the festive period and earlier.

“Conversion rate remained positive at 75%, despite older and higher mileage stock in market, and it was encouraging to see stock up to 3 years old and low mileage is still at a premium.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT JANUARY 2015

Published 16/02/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for January.

The report shows that during January the average month-on-month value of used cars sold at auction across the board increased 2.8% £5,670 to £5,828. This is 7% higher than the same period in 2014. The increase in sale value would reflect the quality of stock available in the New Year.

Sales volumes for the late low sector in January 2015 increased by 74% from 6,746 units to 11,835 units. In addition PX Profile (Young) saw a fall from 16,228 units for January 2014 to 11,169 units in January 2015.

The volume of vehicles sold first time during January rose from 73% in December to 80% in January - which was slightly behind the 82% seen during January 2014.

The price premium for vehicles sold first time round in January 2015 increased by £75 to £275 over the December figure, and the average days on site increased to 12.0 days.

The average sale price increased on lower sales volume in January in all sectors.

This suggests that there have been fewer vehicles available for sale during January 2015. Given the slightly lower conversion for January 2015 compared to the same period 2014 this would indicate some dealers are prepared to pay more for some stock but may still be choosey if they have stock and are buying to fill spaces where stock has sold.

Paul Hill, NAMA Chairman Comments, “Following on from the new car market finishing at 2.476 million units in 2014, this month has shown a strong start to 2015 delivering a 6.7% increase on January 2014 with 164,856 units - best start to a year since 2007. This means the period of record market growth has reached its 35th consecutive month.

“There has however been a fall in retail sales by 5.1% which is the first fall in four years. Company car registrations have masked this fall with an 18.1% increase in registrations for January 2015.

“To sum up, February should remain a strong retail month for used cars as orders build for delivery during the next plate change, but may run behind previous years as incentives attract retail buyers into potentially late low mileage and new vehicles. We should however be thinking ahead as PCP returns are coming and they have the potential to change the look of the wholesale and retail used car landscape.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – FEBRUARY 2015

Published 16/03/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for February today.

The report shows that the average value of used LCV’s at auction across the board decreased from £4,907 to £4.749 between January and February. Volumes saw an 8.6% increase, and the average age of LCV’s sold at auction fell to 68.6 months.

The average number of days that LCVs remained on site declined to 15 days, and the average mileage decreased from 84,617 to 82,650miles.

At £4,749, the average price paid for LCVs in February fell by £34 (-0.7%) which represented a fall of £95 (-2%) against the comparable figure recorded in 2014.

At 10,566 the total number of LCVs sold at auction in February continued to grow across all age bands. The total sales volume was an impressive 23% above the figure posted by this same month last year.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data presented in this latest NAMA LCV report suggests that there is still a healthy level of demand for most light commercial vehicles. In February, an 8.6% increase in volume led to modest price falls yet, as average age reduced slightly with mileage falling sharply a better result would have been hoped for.

“Despite February having bounced back after a patchy start to 2015, there have been several subtle changes as to what used stock is currently in demand. Scruffy, high mileage LCVs over 4-years of age took the biggest hit which was to be expected as the demand witnessed over the past 24 months for such hard-used lots was driven solely a lack of more desirable alternatives.

“With 2014 posting an LCV sales increase close to 19% with the first 2 months of 2015 delivering growth above 20%, the greatest impact on prices will be exerted by soaring van and pick-up registrations. From this point onwards its business as usual with growth in the wider economy hopefully leading to sufficient demand to keep pace with the ever-higher volumes being de-fleeted.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT FEBRUARY 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for February.

The report shows that during February the average month-on-month value of used cars sold at auction across the board decreased 0.4% from £5,592 to £5,567.

Sales volumes were down by 7.3% in comparison to the January 2015 figures. This is not unexpected as stock levels reduce at the auction centres in line with the February market prior to the March plate change, and the sale of vehicles that had built up in January post the holiday period sold at the end of January. However vehicle sales were up by 7% and almost 7,000 units compared to February 2014.

The volume of vehicles sold first time during February 2015 rose from 82% in January 2015 to 84%. However, this was down as a percentage on February 2014 by 2% despite showing a greater number of vehicles sold in comparison.

The price premium for vehicles sold first time rose by £50 on the January 2015 value to £350 and the average days on site decreased to 8.2 days.

Average sale price has increased on the perception of tighter supply in comparison in all sectors although the overall number of vehicles sold was higher than February 2014.

Paul Hill, NAMA Chairman Comments, “February 2015 has shown another strong month in the new car market, the 36th month of consecutive growth delivering 76,958 units up 12% on the February 2014 number of 68,736 units. The registrations were pushed up by a growth of 19.9% in fleet and 3.4% in the private market.

“At a wholesale level as expected values were strong for the month of February in the build up to the March plate change. Early indications are that stock numbers are building in the auction centres a little earlier than the normal market trend for this time of the year. Dealers are verbally reporting a good order take for the new plate change, and transport companies suggesting that their utilisation will be high for March delivering new stock and moving used vehicle stock to the auction centres.

“A strong month on the plate change will inevitably mean more used vehicle stock in the market, that will potentially put pressure on average prices and an early Easter in April will potentially compound this.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – MARCH 2015

Published 15/04/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for March today.

The report shows that the average value of used LCV’s at auction across the board decreased -2.7% from £4,479 to £4.623 between February and March. Volumes saw a 7.2% increase, and the average age of LCV’s sold at auction rose to 70.1 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,650 to 82,232 miles.

At £4,623, the average price paid for LCVs in March fell by £126 (-2.7%) which is a fall of £171 (-3.6%) over the past 12 months.

At 11,329, with the exception of nearly new LCVs, the total number of LCVs sold at auction increased within each age band. The total volume of LCVs selling at auction in March was an impressive 23% higher than recorded for this same month in 2014.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The wholesale market’s performance as represented in the March NAMA LCV report continues to deliver an upbeat message with demand holding firm despite sizeable increases in both overall sales volume and average age.

“The 7.2% volume increase over February 2015 was expected following the new registrations entering the used LCV market. Even more significantly we are pleased to see that the year-on-year growth has reached 23% - one of the largest increases seen. This did however lead to a -9.3 year-on-year decrease in conversation rates.

“It is also interesting to see that LCV’s over 6 years recorded the largest number of sales following a downward trend. We are hopeful that the outlook for the summer months looks promising.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT MARCH 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for March.

The report shows that during March the average month-on-month value of used cars sold at auction across the board decreased -5.7% from £5,567 to £5,251.

Sales volumes were up by 19.1% in comparison to the February 2015 figures. This is not unexpected as stock levels increased at the auction centres in line with the March market and plate change generating part exchange vehicles and end of contract vehicles.

The percentage of vehicles sold first time during March 2015 remained static at 84% compared to February 2015, but was down by 2% on the equivalent period in 2014 at 86%, although the numbers sold were greater than 2014 figure.

The price premium for vehicles sold first time remained static at £350 and the average days on site decreased to 6.8 days.

Average sale prices other than late low have increased as the used retail market has remained buoyant throughout March 2015.

Paul Hill, NAMA Chairman Comments, “March 2015 has been a spectacular month for the new car market – marking the 37th month of consecutive growth in new car sales delivering 492,774 units up 6.0% on March 2014. It is also the best month since the twice yearly number plates were introduced in 1999.

“New products and attractive finance packages underpinned by low interest rates have all helped in delivering the best month this century.

“At a wholesale level values were strong for the month of March despite being a plate change month. However, indications are that stock numbers are building at the auction centres in early April as part exchange and end of contract vehicles become available for sale.

“A strong March on the plate change will inevitably mean more part exchange vehicles with the dealer networks and increased used stock at the auction centres from end of contract vehicles, part exchange cars and overage units. Therefore it is highly likely that this set of circumstances will have a negative effect on the average price achieved.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – APRIL 2015

Published 15/05/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for April today.

The report shows that during April the average values of used LCV’s at auction across the board decreased by 12%. The average age of LCVs saw an increase from 70.1 to 70.6 months. The average mileage decreased from 82,232 to 82,175.

The average number of days that LCVs remained on site was 15.7 days. At £4,573 the average price paid for an LCV fell 1.1%.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The data contained within this report demonstrates again the strength of the marketplace for used LCVs. 72.2% of LCVs sold the 1st time of being offered the first time an total overall of -0.2%. Prices for each of the LCV age bands we highlight have become more sensitive to changes in volume and average age/ mileage.

“The LCV market as a wholesale also became more challenging as the prices for used LCVs have fallen. This is because of the lower reserve prices for maintenance conversion rate purposes and bolster returns.”

“There is a dramatic drop in 2 to 4 year old leasing stock pushing the overall age to its highest level in a long time of over 70 months.

We see however a clear stabilisation within each age band, as the average age for LCVs continues to increase and mileage remains high.”

“Volume has dropped month on month but most importantly it is still 8% higher than this time last year. The 1st time conversion rate has dropped by 5.3% as the buyers have started to get more selective. The auctions halls are still full of buyers and the right stock is still very sort after achieving very high prices. We are looking forward to a strong steady van market over the summer as long as vendors properly assess the conditions of these working vehicles.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

Paul Hill, NAMA Chairman comments: “We see positive results for the new car market in April 2015, with it up being 5.1% up on last year’s results, with 184,778 units being delivered.”

“March with its plate change gave an increase in the volume of units being offered through the auction lanes with dealer part exchange and corporate vehicle returns being in greater supply than in previous months. New products, attractive finance packages and low interest rates have yet again given the new car market a massive boost which in turn is providing volume increases for the auction sector”

Hill continues: “Because of the plate change in the prior month we see an increase of exchange of vehicles within the dealer networks. This has led to an increased stock of used vehicles in auction centres.”

“The forecast for the coming months is positive; there is continued economic recovery ensuring any increased supply has been met with a sensible level of demand, used vehicle supply will now fall back slightly over the summer months which in turn will ensure conversion rates remain strong, the only factor to keep a watch on is the volume of 2 – 3 year old PCP returns which may affect the price performance of certain sectors within the market.”

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – MAY 2015

Published 18/06/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for May today.

The report shows that the average value of used LCV’s at auction across the board increased 0.6% to £4.599 between April and May. Volumes saw a -4.1% decrease, and the average age of LCV’s sold at auction fell from 70.6 to 69.3 months.

The average number of days that LCVs remained on site declined to 14.9 days, and the average mileage decreased from 82,175 to 81,761 miles.

In May, the average price achieved for LCVs increased modestly by £27 (0.6%). However, as the average return has fallen by £325 (-6.6%) over the past 12 months it’s now apparent that price levels are gravitating to a more sustainable level.

At 9,567 units, despite 406 fewer LCVs being sold at auction in May when compared to the previous month, against the same month in 2014 volumes stood 14% higher. With a solid uplift of 5.4%, it was only the 2 - 4 year age band that delivered any growth although this followed the big fall posted by this sector in April.

Paul Hill, NAMA Chairman Comments, “Following some patchy performances earlier in 2015, May proved to be a good month for those wholesaling light commercial vehicles. Falls in average age, mileage and volume each helped deliver a modest, though welcome increase in average price.

“Perhaps the most encouraging statistic to be seen in this NAMA LCV Report was that at 77.5% (+5.3%) the percentage of LCV lots selling at the first time of being offered was the highest recorded in 6 months.

“As we move through the remainder of 2015, it is likely that relatively small swings in the balance between supply and demand will be felt more sharply. Where volumes fall short of the maximum that the trade can absorb, we can expect to see stable market conditions with prices holding firm. However, for any sector and/or age band where even just a few too many LCVs are being de-fleeted, price slippage should be anticipated.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT MAY 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for May 2015.

The report shows that the average sale price in May increased by £172 on the April 2015 figure from £5,228 to £5,400. However, it was marginally down from £5,420 in May 2014 to £5400 in May 2015.

Sales volumes for May 2015 were down by -10.2% in comparison to the April 2015 figures. In terms of a year-on-year comparison, vehicle auction sales were up by 3% from 103,666 in May 2014 to 106,752 in May 2015.

The percentage of vehicles sold first time during May 2015 was down to 73% in May 2015 from 77% in April 2015, but remained static on the May 2014 figure of 73%.

The price premium for vehicles sold first time decreased to £275 and the average days on site increased to 8.4 days.

Sale Price by Age Profile in May 2015 compared to 2014

2014

2015

Diff %

Late & Low

£14,725

£14,750

0.2%

Fleet

£8,725

£8,975

2.9%

PX (Young)

£5,400

£5,800

7.4%

PX (Old)

£2,600

£2,775

6.7%

Budget

£775

£850

9.7%

Average sale price by age profile for May 2015 increased along all age profiles compared to May 2014. The older profile vehicles have seen the greatest increase in price in percentage terms at 9.7%.

Paul Hill, NAMA Chairman Comments, “At the wholesale level, conversion rates dipped at the end of May and into June, with average prices falling. When we look at the specifics it is clear that the volume of older ‘budget vehicles’ over 10 years old, reduced but maintained a status quo in price terms. It is only the reduction in volume that has stabilised the price in this sector - this is unlikely to continue as values in other sectors have already begun to decline.

“There are clear indications that there has been an excess of available stock, and some vendors have been holding out for price and not following the market. My advice is that anyone selling a vehicle needs to react to this market adjustment and follow the advice of their remarketing partners.

“Holding out for the money is a strategy that invariably costs money, with the vehicles eventually being sold for a value less than was originally bid.

“It is good to see an increase in buyers in the auction halls again and there is also good quality overage dealer stock attracting interest from buyers. Whilst stock and buyers are there, additional realignment in pricing will be necessary during June, reflecting supply and demand, but the overall market remains positive and well balanced.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – JUNE 2015

Published 16/07/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for June today.

The report shows that the average value of used LCV’s at auction across the board increased 1.7% to £4.677 between May and June. Volumes saw a 6.6% increase, and the average age of LCV’s sold at auction fell from 69.3 to 67.7 months.

The average number of days that LCVs remained on site rose to 15.4 days, and the average mileage decreased from 81,761 to 80,504 miles.

In June, despite the average price achieved for LCVs increasing by £78 (1.7%), this still represented a fall of £162 (-3.3%) over the past 12 months.

In June, there was a sizeable increase in the number of LCVs being wholesaled through the auction system. Growth of 6.6% took the monthly tally to 10,202 units and delivered an increase of 17% over the same month in 2014. Encouragingly, with the exception of the oldest lots, supply improved at all years, which will be greatly appreciated by trade buyers.

Paul Hill, NAMA Chairman comments, “This month’s LCV report delivers plenty of good news for those wholesaling used LCVs to digest, and highlights that the market for used LCVs remains robust.

“In June, average price and overall volume each saw healthy gains with average mileage continuing to fall back. These are positives that set the scene once we are through the summer lull, for a strong second half of 2015.

“The less positive news is that used LCVs are remaining on site for longer, with a sizeable increase in the proportion that do not sell at the first time of being offered, partially due to volume increases and a higher proportion of duplicate stock.

“Any indications of tougher times ahead are mostly being driven by the approaching holiday season when traditionally few dealers would wish to be holding too much stock. However, vendors would be well advised to heed such warning signs and take steps to ensure that the used LCVs they bring to auction are presented in a manner that will maximise returns or to take account of condition when setting reserve prices.

“Although there are undoubtedly challenges ahead of us, with the UK economy being healthy and set to grow over the coming 12 months, there is good reason to be optimistic over the medium term.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT JUNE 2015

Published 16/07/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for June 2015.

The report shows that the average sale price in June increased by £98 on the May 2015 figure from £5,400 to £5,498. This is also the case for the year-on-year value with June 2015 increasing by 2.2% on the June 2014 average sale price of £5,381.

Sales volumes for June 2015 are up by 2.1% in comparison to the May 2015 figure. In terms of a year on year comparison, vehicle auction sales were also up by 2.3% from 106,485 in June 2014 to 108,950 in June 2015 selling 2,465 more vehicles in June 2015.

The percentage of vehicles sold first time in June 2015 is static at 73% in comparison to May 2015, however in comparison to June 2014 the percentage is down from 77% a decrease of 4%.

The price premium for vehicles sold first time also remained static £275 and the average days on site increased to 8.8 days.

Sale Price by Age Profile in May 2015 compared to June 2014

2014

2015

Diff %

Late & Low

£14,575

£14,575

0.0%

Fleet

£8,575

£8,925

4.0%

PX (Young)

£5,175

£5,625

8.7%

PX (Old)

£2,525

£2,725

7.9%

Budget

£750

£875

16.7%

Despite increased total volumes from May 2015 to June 2015 and increased volumes compared to June 2015, sale prices have increased in four out of five categories with Late Low remaining static.

Paul Hill, NAMA Chairman comments, “Continued low interest rates combined with favourable exchange rates, new models, advanced technology, and improved safety features are helping to support manufacturers with their growth objectives for new car sales.

“At the wholesale level conversion rates have dropped slightly in June with increased volumes in the auction halls and the wholesale trade in general including digital and alternative channels. Prices have remained buoyant in June and this is likely to continue throughout July and August as used vehicle stock levels are likely to fall during the holiday season and prior to the September plate change.

“The increase on Late Low and Fleet Profile stock is likely to continue in July, and as a consequence of record registration figures in June as fleet returns and overage stock enter the market, we are likely to see another realignment of pricing in line with volume in this particular sector.

“July will again need the vendors’ remarketing partners to guide and advise on market conditions and levels of vehicle preparation to achieve the best results in terms of price and conversion rate achievement combined with minimal days to sell.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

TRAINING FOR FUTURE SUCCESS WITH NAMA

Published 22/07/2015

“We are delighted with the success of NAMA’s Appraiser training courses, which have been extremely beneficial for attendees,” said Paul Hill, Chairman of the National Association of Motor Auctions (NAMA). NAMA represents all member auction companies of all sizes selling cars, commercial vehicles and off-road vehicles

The NAMA Appraiser training courses are held in conjunction with Stephenson College in Leicestershire.

Hill praised the efforts of the college, stating, “Stephenson College continues to meet all the challenges presented. We are delighted to have the opportunity to work with such a respected higher education establishment.”

The courses train auction staff to appraise vehicles consistently and to a high standard, underpinning NAMA’s Grading Scheme by ensuring that vehicles are assessed uniformly. This gives consumers confidence in the veracity of the scheme.

NAMA’s Grading Scheme is the first national vehicle grading scheme and an unprecedented competency framework.

The Appraiser course was started 10 months ago, and has already trained over 300 candidates. It helps candidates to qualify faults and severity levels to a consistent standard, and to justify decisions utilising the NAMA standards for appraisal. It takes place over the course of one day.

Candidates gain an in-depth understanding of the benefits of standardisation for both buyers and sellers alike, and the importance of such a role in setting a new standard for the UK motor industry as a whole.

Successful attendees are rewarded with the ‘NAMA Accredited Appraiser’ qualification from the college and the Institute of the Motor Industry (IMI).

ENDS

NOTES TO EDITORS:

The National Association of Motor Auctions (NAMA) was originally founded as The Society of Motor Auctions in 1969. NAMA is an association within the Retail Motor Industry Federation representing Vehicle Auction Companies within the UK, currently covering 73 Member sites including large groups and independent auctions. NAMA Members collectively employ 5,600 staff and last year were responsible for the sale of 1.4 Million vehicles generating a combined sales value of £7.6 Billion.

Stephenson College is one of the leading colleges in the UK for the automotive and logistics industry and is ideally situated in the centre of the UK. The college is committed to working with employers and contributing to increasing both local and national productivity.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – JULY 2015

Published 18/08/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for July today.

The report shows that the average value of used LCV’s at auction across the board decreased -4.5% compared to June 2015. Volumes saw a 2.7% increase to 10,478 units, and the average age of LCV’s sold at auction remained at 67.7 months.

The average price achieved for LCV’s increased in July by 1%. However, compared to this period last year, average prices sat 4.5% lower. Whilst it is interesting to compare average selling prices and it is a measure that has long been used by auction companies, it is difficult to draw any cast-iron conclusions without looking at a more granular level, as factors including volume, mix, age and mileage can affect the output.

Units sold in July increased for the third consecutive month to 10,478. Units under 2 years of age increased by 18.4% over the previous month and 43% over this year’s low point in May.

Alex Wright, NAMA LCV Chairman comments, “This month’s NAMA LCV report suggests that vendors that are going to the market are reaping the rewards and moving stock along. In comparison, those following the books are paying the price and are sitting on stock for a lot longer.

“Increased volumes have contributed to slowing conversion rates, and average prices have also fallen. This has been compounded by manufacturers driving new sales through purchasing and leasing.

“The commercial market is definitely showing signs that it has reached its peak in terms of prices, however we are not anticipating a significant decline in prices - just a slight depreciation.

“The average age of vehicles has increased over this time last year – suggesting that there is still a great influx of older vehicles washing through.

“We are by no means concerned following the -6.7 drop over July 2014, as historically July and August are typically quitter months due to the summer holidays and this is now seen as a seasonal trend. We hope to sales of LCV’s grow over the coming months.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT JULY 2015

Published 18/08/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for July 2015.

The report shows that the average sale price in July decreased by £140 on the June 2015 figure from £5,498 to £5,358. This was also the case for the year-on-year value with July 2015 decreasing by -4.2% on the July 2014 average sale price of £5,595.

Sales volumes for July 2015 were up by 4.2% in comparison to the June 2015 figure. In terms of a year-on-year comparison, vehicle auction sales were also up by 12.2% from 101,190 in July 2014 to 113,553 in July selling 12,363 more vehicles in June 2015.

The percentage of vehicles sold first time in July increased from 73% in June 2015 to 80% in July 2015. In comparison to July 2014, this was also up by 1% from 79% in July 2014.

The price premium for vehicles sold first time was up by £75 to £350, and the average days on site decreased to 8.1 days.

Sale Price by Age Profile in July 2015 compared to July 2014

2014

2015

Diff %

Late & Low

£14,550

£14,525

+0.2%

Fleet

£8,525

£8,800

+3.2%

PX (Young)

£5,225

£5,575

+6.6%

PX (Old)

£2,550

£2,650

+3.9%

Budget

£775

£825

+6.5%

Whilst sale prices by age profile increased compared to the equivalent month in 2014, they declined in all categories compared to June 2015, in line with higher numbers of vehicles available for sale in the wholesale market.

Paul Hill, NAMA Chairman comments, “At the wholesale level the conversion rates improved despite increased volumes in the auction halls. Prices were under pressure in line with the wholesale volume increases in the market and the outlook for the September plate change - the last significant registration period for 2015.

“Dealers and leasing vendors recognised that over age, part exchange and end of contract stock needs to be sold in preparation for new stock arriving in September.

“Significant numbers in July of PX Old and Budget Vehicles will have an adverse effect on prices going forward, despite the currently buoyant used retail market. The European markets, whilst showing growth, are still working from a low base and are not registering the numbers to take the volume pressure off the UK market. Incentives through August, September and into Q4 will keep the pressure on new vehicle registrations including pre-registration activity.

“Many of the larger dealers are currently satisfying the demand for used vehicle stock through pre-registration activity, and PCP returns generated from early renewal activity and customer retention campaigns. This inevitably will lead to the wholesale market weakening and will be further compounded as the market runs toward the calendar year end, with many businesses looking to reduce stock over the holiday period as well as their financial year end. Vendors remarketing partners will have to again guide and advise on market conditions to achieve best results.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA LCV REPORT

Published 23/09/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for August today.

The report shows that the average value of used LCV’s at auction across the board increased 1% compared to July 2015. Volumes saw a -16.8 decrease compared to last month, and the average mileage of LCV’s fell below 80,000 miles for the first time this year.

The average price across the LCV sector of the market increased by 1% in August to £4,771. This is the second highest value this year, beaten only by the average prices that were achieved in January, which is typically expected to be a strong month.

Average values of vehicles up to 2 years of age increased in August by 2.3% to £11,620 which is £1,200 up on August last year across a similar volume, although based on a slightly lower average mileage.

August is a month that sees a reduction in fresh fleet entries with many contract hire and leasing change cycles set up to coincide with the plate change in September.

This August was no exception and as a consequence volumes sold fell to the lowest point this year, down 16.8% on last month. The general trend that is emerging however, of year on year increases in auction volumes, is again reflected with a 6% increase in volumes sold in August versus this time last year.

Alex Wright, NAMA LCV Chairman comments, “August was a steady month in the LCV market and trends are beginning to get back to normal.

“It is also positive to see that vehicles in the age 6+ category are no longer the largest. All extended contract utility vehicles are coming to an end and we are now seeing a welcome rise in volumes for the 2-4 year age group.

“It is also worth looking at how much more volume is in the market compared to 3 years ago - yet prices remain higher. It will be interesting to see if this can be sustained.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT AUGUST 2015

Published 23/09/2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for August 2015.

The report shows that the average sale price in August increased by £230 on the July 2015 figure from £5,358 to £5,588. This is also the case on the year on year value with August 2015 increasing by 1.4% on the August 2014 average selling price of £5,512.

Sales volumes for August were down by -12.2%% in comparison to the July 2015 figure in line with seasonal norms prior to the September plate change. Year on year comparison of vehicle auction sales were also down by -2.2% from 101,944 in August 2014 to 99,680 in August 2015 - selling 2264 fewer vehicles.

The percentage of vehicles sold first time in August increased from 80% to 84% in August 2015. In comparison to this time last year, this was also up by 4% from 80% in August 2014.

The price premium for vehicles sold first time remained static £350, and the average days on site increased to 8.2 days.

Sale Price by Age Profile in August 2015 compared to August 2014

2014

2015

Diff %

Late & Low

£14,900

£14,800

-0.7%

Fleet

£8,625

£8,800

+2.0%

PX (Young)

£5,175

£5,650

+9.1%

PX (Old)

£2,550

£2,725

+6.8%

Budget

£775

£875

+12.9%

The average sale price in all the segments other than Late and Low increased, compared to the equivalent period 2014. Compared to July 2015, the average sale price also increased in all segments except the fleet profile, which remained static at £8800.

There were a significant number of budget vehicles sold at auction in August that masks some of the value achieved in other segments during the month.

Paul Hill, NAMA Chairman comments, “As the September plate change is upon us, we expect that there will be significant increases in the wholesale volumes starting to enter the market and this will build through the month of September. It is also forecast that leasing vendors will have increasing numbers of returns through September and into October.

“Given the slowdown in the Chinese auto market, manufacturers will again potentially be looking for a home for the vehicles expected to be registered in Asia and the UK will be one market that will see incentives to consume some of that supply. This in mind, and with most manufacturers chasing registrations and market share, we will see price realignment in the final quarter of 2015 as values continue to move downwards in line with supply and demand.

“The larger franchised dealers are focused on stock turn, to sell the ever increasing numbers of pre-registrations, part exchanges and PCP returns and the general smaller dealers continue to be under margin pressure. As such vendor remarketing partners need to continue to be close to their vendors and advise of changing market conditions as they develop.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – SEPTEMBER 2015

Published 13/10/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for September today.

The report shows that the average value of used LCV’s at auction across the board increased 1.5% from £4,770 to £4,843 in September. Volumes saw a 16.9 decrease, and the average mileage of LCV’s fell -1.2% to 77,918.

Price Changes by age

The average price for vehicles under 2 years of age fell by 1.2% in September, this despite having on average, almost 20% less miles. Feedback from dealers and traders suggests that there is a growing lack of interest towards late plated units, with the price gap between late year used and new narrowing due to very competitive deals currently in the market.

Volume Changes by Age

As expected sales volumes bounced back in September from the lows seen in August, with an overall increase of 16.9% to 10,219 units. Sales of units of an age that would normally be associated with fleet change cycles saw significant growth from last month, rising by almost 32% which was broadly in line with sale volumes observed during the last plate change period in March.

Alex Wright, NAMA LCV Chairman comments, “First time conversion rates have been volatile this year, with volume playing a major part. With the influx of units following September’s plate change beginning to have an impact it is perhaps surprising to report that first time conversion rates in September were reasonably strong at 78.2%.

“Whilst this represents a fall of 1.5% on the same period last year, it is almost 5% up on last month. Clearly there is significantly more volume around but there is also notable demand from the trade as sales volumes exceeded this period last year by 28%.

“With volumes ordinarily expected to remain high throughout October, auction sites will be hoping for a continuation of the buoyant activity recently seen in order to avoid a build-up of unsold units as we enter what is typically a slow period of the year in November and December.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT SEPTEMBER 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for September 2015.

The report shows that the average sale price in September decreased by -3.5% on the August 2015 figure from £5,588 to £5,391.

Sales volumes for September were up by 12.6%% in comparison to August 2015, in line with the seasonal trends during the 65- number plate change. In terms of a year-on-year comparison, vehicle auction sales rose by 13.2% from 99,165 in September 2014 to 112,888 in September 2015.

The percentage of vehicles sold first time in September increased from 84.1% in August 2015 to 85.4% - an increase of 1.5%.

The price premium for vehicles sold fell from £350 to £300, and the average days on site decreased to 7.3 from 8.2 days.

Sale Price by Age Profile in September 2015 compared to September 2014

2014

2015

Diff %

Late & Low

£14,275

£14,050

-1.6%

Fleet

£8,625

£8,800

+2.0%

PX (Young)

£5,275

£5,675

+7.6%

PX (Old)

£2,575

£2,675

+3.8%

Budget

£825

£825

0.0%

Three out of five market sectors saw price growth on the equivalent month in 2014 with no change in the budget sector and the late and low category showing a fall of -1.6%. There has been a significant number of budget vehicles sold at auction during the month and that masks some of the value achieved in other sectors.

Paul Hill, NAMA Chairman comments, “The September plate change has driven volume up through the month with values compared to August 2015 starting to decline. Available volume in auction was up significantly at the start of October and conversion rates have lowered.

“It is anticipated that volumes will continue to grow in during the month as fleet returns and part exchange volume continue to fill the lanes. Values will come under mounting pressure during October and will see an additional fall.

“Vendor auction partners need to be close to the market changes and advise swiftly on the rostrum and council at the pre-auction briefing to ensure days to sale remain down and the best values are achieved on the day.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – OCTOBER 2015

Published 18/11/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for October today.

The report shows that the average value of used LCV’s at auction across the board increased 1.4% from £4,843 to £4,910 in October. Volumes saw a 2.3% decrease, however were up almost 21% on this time last year, and the average mileage of LCV’s was up 4.2% to 81,155.

The average price achieved throughout October increased for the 6th consecutive month to £4910 which represents an increase of 1.4% over last month, however when compared to last year it sits 5.2% down.

The volume of typical fleet vehicles (2-4 years) that were sold in October returned to levels that we have become used to throughout 2015, falling by -24% from the highs of September. Although these volumes have reduced substantially, vehicles in all other age groups actually increased further in October with the net effect being an overall reduction in volumes of only -2.3%.

Alex Wright, NAMA LCV Chairman comments, “October saw a 20% year-on-year increase in volume, and only a -5% reduction in value. Whilst first time conversion rates also retracted it was only by a relatively small amount to 77.4% which represents the third best month this year.

“At 13.3 - the average number of days on site in October is lowest seen all year indicating that the influx of freshly de-fleeted units seen in October were received favourably by the trade.

“There does however, continue to be a growing volume of units with high mileages and/or in poor condition remaining unsold at auction centres.

“Should there continue to be decent volumes of freshly defleeted units arriving in the coming weeks, vendors may find it an even greater challenge to dispose of problem units as we enter what is a traditionally a slow period for volume sales.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT OCTOBER 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for October 2015.

The report shows that the average sales price in October increased by 0.9% to £5,441 from £5,263.

Sales volumes for October rose by 2.4% in comparison to September 2015. In terms of a year on year comparison vehicle auction sales rose by 12.0% from 102,707 in October 2014 to 114,986 in October 2015.

The percentage of vehicles sold first time in October decreased from 85% in September to 80%, a fall of 5%. In Comparison to October 2014 there was no change in the conversion rate, remaining static at 80%.

The price premium for vehicles sold fell from £300 to £250, and the average days on site increased to 7.4 from 7.3 days.

Four out of the five market sectors saw a sales price growth on the equivalent month 2014 with only the late and low sector falling in price on the previous year. There were a significant number of budget vehicles sold during the month at auction maintaining the trend experienced throughout 2015 with prices holding well despite the volume.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first time conversion rates declined in four of the five market segments to below 80%. The exception was the budget sector of the market which delivered an 86.2% first time conversion. Although we have seen a marginal 1.1% fall in new car registrations, October delivered the third highest number of sales at auction during 2015.

“In addition to the fleet volume, dealers continued to clear the decks of overage stock and unwanted part exchange vehicles that arrived on site as a result of new car sales activity in September and October.

“Despite volumes of new cars evening out in during October, we expect that manufacturers will continue with the relentless push to generate new car registrations and vie for market position.

“As always the ever vigilant vendor remarketing partners will need to keep close to the market changes and council wisely at the pre-auction briefings. In addition swift advice will be needed to ensure days to sale are kept to a minimum and the best values are achieved on the day.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

THE RETAIL MARKET IS MANAGING NEARLY NEW EFFECTIVELY

Published 20/11/2015

There is increasing evidence that dealers are managing the growth in nearly new stock very effectively with a fall by over 20 per cent in volumes of vehicles under 2 years old available through the NAMA network in October.

“The capacity of retailers to absorb an increase in the nearly new market is important to sustain residual values. A sustained increase in such stock into the remarketing cycle would clearly be a concern. Encouragingly, the latest NAMA data suggests that that this is not the case,” observes NAMA Chairman Paul Hill.

Whilst concerns of over-supply of nearly new stock into auctions have been unfounded to date; it remains important to recognise that the supply/demand situation is finely balanced. Less stock may have come to market in October, but demand also lightened with a 6 per cent fall in first time conversions. Tellingly, the vehicles under 2 years old category saw a shift towards younger stock. Nevertheless, as Hill concludes, much of this slowing of demand is in line with a welcome return to classic seasonal trends;

“Seasonality is certainly reflected in lower month on month demand for nearly new stock and this reduced demand is evident across most age categories. Our overall confidence in the resilience of the market is derived from a strong year on year increase in remarketing activity. Overall sales this October were up an impressive 12 per cent on the same period in 2014. It does seem that we are seeing sustained consumer confidence feeding through into higher used vehicle sales activity.”

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – NOVEMBER 2015

Published 16/12/2015

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for November today.

The report shows that the average value of used LCV’s at auction across the board increased 0.2% from £4,910 to £4,921 in November. Volumes saw a -7.1% decrease - the second lowest level seen in 2015 but demonstrated an increase of 29% over the same period last year, and the average mileage of LCV’s was down -0.7% to 80,615.

The average price rose for the 7th consecutive month to £4,921 – the highest figure this year, however is -0.5% behind the same period last year.

The volume of typical fleet vehicles (2-4 years) sold in November dropped to the second lowest level this year. As a result it appears to have pushed buyers into considering younger vehicles, possibly from manufacturer or rental sources as unit sales of vehicles less than 2 years of age were pushed to the second largest volume seen all year together with the highest conversion rate of 72%.

Alex Wright, NAMA LCV Chairman comments, “Sales volumes in November appear to have reduced in line with fresh entries. Activity has been buoyant though, with dealers and traders appearing eager to build stocks and have enough time to prep units in time for the New Year.

“It is also likely that fresh entries in December will be limited so those requiring stock will have been prepared to fight it out in November”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT NOVEMBER 2015

The National Association of Motor Auctions (NAMA) published its monthly market report today for November 2015.

The report shows that the average sales price in November increased by 3.6% from October 2015 to £5,637 from £5,441.

Sales volumes for November declined by -11.8% in comparison to last month. In terms of a year on year comparison, vehicle auction sales rose by 14.9% from 88,288 in November 2014 to 101,453 in November 2015.

The percentage of vehicles sold first time in November fell from 80% in October to 77%, a fall 3%. In comparison to November 2014 the first time conversion rate increased by 1% from 76%.

The price premium for vehicles sold first time fell from £250 to £175, and the average days on site increased to 8.4 from 7.4 days.

Sale Price by Age Profile in November 2015 compared to November 2014

2014

2015

Diff %

Late & Low

£15,075

£14,125

-6.2%

Fleet

£8,875

£9,050

+1.97%

PX (Young)

£5,950

£5,925

+0.43%

PX (Old)

£2,875

£2,900

+0.86%

Budget

£925

£925

0.00%

Three out of five market sectors saw a marginal sales price growth on the equivalent month in 2014 with the budget sector remaining static. Late and low fell by -6.2% which has continued the trend from October. Once again there has been a significant number of budget vehicles sold during the month, which perpetuates the 2015 trend, with prices holding well.

Paul Hill, NAMA Chairman comments, “At the wholesale level, first time conversion rose in four of the five market sectors compared to November 2014. The exception was the late and low sector of the market which fell to 72.7% from 75% in 2014.

“In addition to the fleet volume, dealers have continued to clear out the overage stock and unwanted part exchange vehicles that have come into stock as a result of new vehicle sales during October and November. This position will remain a difficulty during December.

“The temporary lull in new car activity in October has not stopped the manufacturer’s enthusiasm to register vehicles to achieve their stretch targets during that final push in 2015. Values for December are under pressure with increased volumes of stock and reduced demand. It is anticipated that most vendors will not be holding stock over the year end in anticipation of higher values in the New Year.

“2016 will certainly bring with it more vehicle returns for the first quarter and a continued fight by the manufacturers for increased volumes in the new car market”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT DECEMBER 2013

Published 14/01/2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for December.

The report shows that during December, the average value of used cars sold at auction across the board increased 10.4% from £5,413 to £5,975, as the average age and mileage of stock sold improved slightly. In particular, the percentage of sub-2.5-year-old vehicles grew at the expense of older stock.

Total transactional activity decreased in December across the trade market, undoubtedly impacted by the festive season. All segments fell in sales volumes in absolute terms. However, in relative terms the decline in volume resulted in more younger vehicles being available proportionally, which consequently had a positive impact on average prices.

Average conversion rate increased slightly to c. 75% versus November and was flat compared to December 2012. With the exception of ‘Late & Low’ which declined 2%, all categories posted at least a 1% increase whilst the older segments of the market increasing by at least 5%.

For all categories in December, stock had relatively static average mileage and age when compared to the previous month. Though mileage for Fleet and Late & Low profile vehicles increased by 6.3% and decreased 7.5% respectively.

The dramatic fall in 0 to 0.5 year-old vehicle price did not significantly impact on the overall Late & Low grouping as due to the small number of vehicles the youngest age bracket represents, the weighted impact on average price was £200 which, versus the performance of the other age bracket up to 2.5 years did not result in an actual decline in average price.

4x4 and convertible prices during the last 3 months

Oct-13

Nov-13

Dec-13

Premium 4x4 SUV

22175

22575

22600

4x4 Lifestyle Cars

10525

10300

10675

Prem Upper Medium Convertibles

11250

10525

10550

General Market Convertibles

6150

6450

6175

The above shows the last 3 months’ prices for Fleet age profile cars (2.6 – 4.5 years). Premium SUVs and Lifestyle 4x4s are continuing their climb in price. As the winter season has arrived and the adverse condition will facilitate some floating buyers’ decision to purchase.

By contrast, prices for general market convertibles have fallen whilst the premium upper medium convertibles have remained largely static in price.

Justin Lane, NAMA Chairman Comments, “As anticipated retail demand in December was slow with buyers returning to the market in the final days running up to Christmas. Many dealers also reported frantic activity in the period leading up to the end of the holiday break at the end of the first week of January. From this point a strong level of Retail demand is expected to last through until the end of the month giving a good start to the year for used car sales.

“However, the negative side is the supply of cars which has been at a reduced level due to the shut down during the festive period. Many of the wholesale channels were closed and contract hire and leasing defleet operations were suspended for the holidays. The result has been a shortage of stock and the subsequent scramble for cars to replace those sold in the New Year period has meant values have been inflated for a short time. As volumes from trade sources settle into their normal rhythm the values are likely to settle and the balance of supply and demand will return to something closer to the usual status quo.

“Demand for 4x4 and crossover SUV product is likely to remain strong during the month as a result of adverse weather conditions. What is already clear is that buyers are now in the market replacing vehicles damaged by flooding and this will help ensure both Trade and Retail demand remains good throughout the month and into February”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – DECEMBER 2013

Published 16/01/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for December today.

The report shows that during December the average values of used LCV’s at auction across the board increased by 5.4% from £4,512 to £4.757 between November and December. However, total sales volumes saw a sharp fall of -51.2% with a total of 3,885 units being sold.

Auctions across the country delivered a sound performance in December bringing 2013 to a close on a high note. The average price paid for LCVs and conversion rates both reached a high point for the year whilst sales volumes and the number of entries required to sell each lot fell to their lowest points.

The number of days that LCVs remained on site fell to 11.3 and conversation rates improved by 3% standing at 79%.

2013 closed strongly with the prices being achieved for LCVs having mostly increased with an overall improvement of 5.4%. Disappointingly, the exception to this being a 3.5% fall recorded at 2-4 years. However, as the average mileage for LCVs in this age band grew over the month by a similar percentage, this probably goes some way to explaining the decline.

Across all age bands in December, the falls in volume were of similar magnitude and point toward LCV supply being restricted for some months to come.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The LCV sector continues to be a marketplace where the outcome is being dictated by the balance between supply and demand.

“Accordingly, with supply looking likely to be limited over the first 6 months of 2014, the prospects for the overall sales performance remain positive although the total revenue generated will be constricted due to volumes being below what could be absorbed.

“In the final NAMA Report for 2013, the data collected from across the auction industry highlighted the strength of demand for LCVs that ensured the year closed on a high note.

“Together with reports of a strong start to the new year, this all points toward a profitable 12-months being there for the taking provided that best-practice is followed”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT JANUARY 2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for January.

The report shows that during January, the average value of used cars sold at auction across the board increased 2% from £5,534 to £5,426.

January got off to a strong start in volume terms as traders returned after the festive season, with a total of 113,646 units traded through NAMA member auctions, a 16.5% improvement on January 2013 and 18.3% ahead on a seasonally-adjusted basis.

Late & Low and both PX age segments showed the greatest volume improvement from December to January, although trends over the last twelve months suggest recent volume growth has been driven by older age segments, Budget and PX (Old). Days on site increased from 8.8 to 11.0 days - partly due to vehicles from December being held over to take advantage of the January market.

The typical premium of a vehicle sold first time versus a sale from a subsequent entry rose slightly to £350, or 7% on average as buyers were furnished with greater choice from increased volumes.

Average age increased from December 2013 to January 2014 across all categories although mileage was mixed, with younger PX and Budget profile vehicles decreasing.

Despite this, the percentage of original cost new vehicles achieved by age segment increased, except for Late & Low cars, which fell back 0.5%.

Retail demand in January and continuing into the first week of February was a little slower than in the previous weeks which many have put down to a blip in activity driven by the arrival of credit card bills from the festive period. This has resulted in many potential customers having to direct money away from Retail purchases to satisfy previous commitments.

Craig Mailey, NAMA Data Group Chairman Comments, “The forecast for February is looking fairly encouraging with retail demand expected to return to previous levels. Trade demand has remained constant with most wholesale routes reporting stock shortages, these are expected to continue until at least the end of the month and quite possibly well into March.

“This will be exacerbated by the reduction in new car sales, always experienced at the tail of February, with customers holding delivery of their new car until the new plate is launched in March.

“Used values are therefore likely to remain fairly constant reflecting the current state of the market. We are also now heading to a point where Retail demand for convertibles will start to improve, although with the current state of the weather demand for 4x4 is unlikely to decrease”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – JANUARY 2014

Published 14/02/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for January today.

The report shows that during January the average values of used LCV’s at auction across the board increased by 1.1% from £4.757 to £4,807 between December and January. Total sales volumes saw a great increase of 9,185 units – a 10% rise over January 2013 and 136.4% increase over last month.

It was positive to see that 77% of LCVs sold at the first time of being offered. The large increase in volume was accompanied by reductions in both age and mileage which resulted in a small rise in average price.

The only negatives came in the form of increases in the time each lot spent on site and the average number of entries it took to achieve a sale. The number of days that LCVs remained on site rose to 15.6 and average mileage fell modestly to 83,788 miles.

Similar to the effect that January’s uplift in volume had upon average mileage, despite each age band reporting falls, overall, the average price paid for an LCV rose by 1.1%. Much of this is explained by a 14% increase in the numbers of late year models coming under the hammer which helped lift the average to £4,807.

In January, if demand for used LCVs had not remained strong, this surge in volume across all the age bands would have caused problems. Thankfully, with the marketplace getting off to a fast start in 2014, these higher numbers were readily absorbed due to trade and retail buyer demand for all stock.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “The significant increase in volume witnessed in January undoubtedly resulted from those part-exchanges generated by December’s massive spike in LCV registrations. The good news this month however is the 10% rise in volumes over January 2013, and a greater volume than any other month last year.

“This number of vans and pick-ups passing through the auction halls in January provided both vendors and auction centres with a stiff challenge that had to be met head-on.

“Encouragingly, with the expectation of continued growth across nearly all parts of the UK’s economy, it becomes difficult to remember a better time to be wholesaling used LCVs.

“With the likelihood of an extended run of good fortune in prospect over the months of spring, it seems that providing the laws of supply and demand are adhered to, 2014 is set to deliver another successful trading period to our industry”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland Trade Association which represents the retail motor industry in Scotland.

NAMA REPORT FEBRUARY 2014

The National Association of Motor Auctions (NAMA) published its monthly market report today for February.

The report shows that during February, the average value of used cars sold at auction across the board increased 0.3% from £5,426 to £5,442.

Last month recorded a 15.6% drop in volume over January, although this is a seasonal dip given a comparable fall last year. The 95,936 units sold are an increase of 11,991 over the volume sold in February 2013 which is a rise of 14%.

The percentage of vehicles sold first time round improved to 86% driven by improvements in Fleet profile cars, although the Budget segment remains the best performer at 88.3% of vehicles sold first time.

The overall average age of cars sold at auction increased by 3.6 months to 82.4 months year on year and by 1.4 months from January to February 2014. Average mileage also increased by 1,903 miles to 66,794 year on year and by 1,088 since January 2014. The significant reduction in days on site for sold stock and increase in conversion rates suggests a general stock shortage during February.

Throughout February prices remained broadly stable despite the rising age and mileage in all sectors. The year-on-year average sales price of £5,442 across all ages remained the same.

Craig Mailey, NAMA Data Group Chairman Comments, “Following a slow start to the month, attributed to the arrival of credit card bills from the festive season, activity levels for most of the used car trade grew in line with February expectations. Finance demand increased progressively as the month wore on and by the end of the month most franchised and non-franchised dealers were reporting good used car sales levels.

“Used car retail activity at the start of March has been very robust, and has come as a welcome surprise to many who expected the focus and demand to be on new cars following this month’s 14-plate change.

“The slight squeeze on used car stock availability evident during the final two weeks of February is lingering into March, but this is expected to fade away as part exchanges from the new registration activity feed through to the auctions in the second and third week of March.

“This will see dealers and traders replenish stocks at more sensible pricing levels to meet what is expected to be a continuation of the robust used car demand driven by an economy that is growing in strength day by day”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.

The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.

NAMA COMMERCIAL VEHICLE REPORT – FEBRUARY 2014

Published 13/03/2014

The National Association of Motor Auctions (NAMA) published its Light Commercial Vehicle (LCV) market report for February today.

The report shows that during February the average values of used LCV’s at auction across the board increased by 0.8% from £4,807 to £4,844 between January and February. Despite the slight rise in value, total sales volumes saw a significant -6.6% fall to 8,583 units, however volumes still remain 20% ahead on February 2013 suggesting there is still a healthy demand for LCVs.

It was positive to see that 77% of LCVs sold at the first time of being offered. The average number of days that LCVs remained on site fell to 12.7 and the average mileage was 84,079 miles.

With February delivering positive news on LCV prices, albeit with an overall increase of just 0.8%, it is perhaps more relevant to reflect that over the past 12 months the average price paid for an LCV lot has risen by £586 (+13.7%).

In February, volumes rose for the oldest and youngest LCV age bands whilst numbers for stock between 2-6 years old fell back to give an overall reduction of 6.6%. At 8,583 units, the current volume of LCVs appearing at auction is being readily absorbed. However, whilst demand for vans has remained solid, the growing number of 4x4 double cab pick-ups and larger minibuses on offer, at a time when the sentiment being directed towards them has faltered, are struggling.

Alex Wright, Chairman of NAMA Commercial Vehicle Group commented, “February delivered robust results and was better indicating as to where the remainder of this year is heading. It would appear that monthly volumes will remain well above 8,000 units and destined to settle above 9,000 before too long.

“Over the medium term, should the average number of LCVs being offered at auction each month top the 10,000 mark, then nothing short of boom conditions across the wider UK economy would prevent price slippage.

“With the dominant factor across each LCV sector over the past 18-months having been the shortage of quality used stock, the sizeable increase in retail and trade demand has driven prices ever higher.

“Looking at the overall market this month it is difficult to predict what 2014 holds for the industry. Taking on board sales volumes of 4x4 double cab pick-ups and above 4.0 tonne minibuses, we have prime examples here of just how quickly the market can change and can only hope for a significant turnaround over the coming months”.

ENDS

Notes for editors: NAMA is the auction division of the RMI. NAMA market information is based on data supplied by its National members operating in the remarketing sector. The monthly sample size is up to 90,000 vehicles. The full report is available on request.